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The biggest challenge to today’s housing market is the shortage of housing inventory for sale. A normal market would see a six-month supply of homes for sale. Currently, that number is below four months. This is the major reason home prices have continued to appreciate at higher levels than historic averages.
The good news is that builders are now starting to build more homes in lower price ranges.
With housing prices appreciating at levels that far exceed historical norms, some are fearful that the market is heading for another bubble. To alleviate that fear, we just need to look back at the reasons that caused the bubble ten years ago.
Last decade, demand for housing was artificially propped up because mortgage lending standards were way too lenient. People that were not qu...
Many tips for moving give advice about how to handle the transition of utilities, finding a new bank and other relevant "helpful hints". These tips, however, focus more on making the announcement and completion of the move rather than making the move easier on the youngest members of your family. Working with an experienced real estate agent like the ones you'll find with our team in Mansfield ?can help you with everything from finding a home to packing the first box to placing the last houseplant.
If you are considering moving up to your dream home, it may be better to do it earlier in the year than later. The two components of your monthly mortgage payment (home prices and interest rates) are both projected to increase as the year moves forward, and interest rates may increase rather dramatically. Here are some predictions on where rates will be by the end of the year:
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